In past few years, India has attracted foreign direct investment (FDI), especially in the mobile sector. Even though India’s mobile handset industry is growing at a rapid rate but over half of the market is captured by Chinese brands like Xiaomi, Oppo, Vivo and Lenovo who have pushed the Indian brands down to secure four out of top five leading names.
Now to join the league, another Chinese handset maker, TopWise Communication is ready to enter the world’s fastest-growing mobile phone market. Earlier, TopWise makes a majority of Micromax’s phones but now it is bringing its own brand to the market which is named as ‘Comio’ possibly till the of mid-August. The handset maker aims to invest ₹500 crore in the next one year on local manufacturing, research & development, and marketing.
Sanjay Kumar Kalirona, CEO & Director at Comio said,”For ‘Comio’, TopWise Communications would initially launch four smartphone models in the ₹6,000 to ₹12,000 range, with a target of selling 1 lakh units per month within a couple of years”. He added, Comio will have company-owned sales team and service network and it will be hiring 200 people in the first year, of which 150 will be in sales.